Ms Kunkel added the inn will be a “unique addition” to its portfolio of more than 570 properties across six countries.

In Australasia, Hilton Hotels & Resorts controls 27 properties – four of which are owned by M&L Hospitality.

“We are thrilled to be partnering with M&L Hospitality to bring our renowned brand of hospitality back to the wonderful city of Melbourne”.

Equity Chambers was built in 1931 on the site of Victoria’s first synagogue.

Artist’s impression of QC Residences, a proposal which until 2017, would have seen the site redeveloped as an apartment complex.

The five-level Romanesque building, with Gothic details, also holds the title as the country’s longest continuously operated barristers’ chambers.

The Bourke Street site has been mooted for a residential redevelopment since 2008 – when Williamson Properties won approval to build 215 apartments both within the historic building and in a new 16-storey tower, behind it.

In 2012, Williamsons Properties sold the permitted property for $12.7 million to Malaysian developer DKLS.

Mr Kum successfully applied to change the use of the proposed building to a hotel in 2018. Upon completion, the complex will also include a restaurant, gym, executive lounge and five meeting and event spaces.

M&L Hospitality’s hotel portfolio includes assets in Singapore, New Zealand and Europe – many managed by Hilton.

Mr Kum ranks 33rd on this 2018 Forbes list of Singapore’s richest people, with a net worth of about US$930 million. A prominent hotelier now, his wealth was originally acquired in the shipping industry.

Last week we reported that Mantra Group committed to occupy an unbuilt hotel at 203-207 Bridge Road, Richmond, in Melbourne’s inner-east. This item includes details of several other hoteliers to lease sites in and around the city over the past 12 months.